SOUTH KOREAN KDB Daewoo Securities has announced recently that its joint venture with local company to develop US$220 million worth “Daewoo Amara Hotel” in Yangon will be ready by the end of 2016 to cater the hotel rooms shortage in the city.

The project, which will include a 15-storey luxury hotel and a 29-storey serviced residential high rise near Inya Lake in Yangon, will be carried out by a consortium of Daewoo International, POSCO Engineering and Construction, and Korean luxury chain Lotte Hotels and Resorts with 85 per cent share and local IGE Group of Companies with 15 per cent share.

The project is estimated to cost US$220 million, about 190 million will be financed by the brokerage, and it is expected to be complete by late 2016.

29-storey serviced residential high rise will be added 315 rooms while 15-storey luxury hotel will be added 346 rooms. So this will be the biggest hotel project so far in Myanmar and we will also add convention hall, indoor/ outdoor pools, fitness, SPA, restaurants, All day dining and Club lounge.The project was commissioned under a “Build-Operate-Transfer” agreement by Myanmar Investment Commission, which offers a 70-year land lease after which the property must be returned to the Myanmar government.The main design motif of the luxury hotels’ interior design was inspired by the marvelous birth story of the sacred Lotus, which is a symbol that represents Myanmar. Five exquisite stories, derived from the birth and life of the Lotus, were incorporated into the interior design of the luxury hotel.

The motif of the high rise hotel’s interior design is “Myanmar, the country with beautiful lake, going through a transition stage while preserving tradition, becomes a new icon with a collective of individually well-known cities.”

Inle Lake, Known for its magnificent lakes, Ngapali Beach, called Napoli of Myanmar

Yangon, facing transition with tradition and Bagan, famous for thousands of pagodas. Aspects of these four famous cities are well incorporated into the overall design of the our 29-storey serviced residential high rise hotel.